Introducing my friend Bala, the Visionary

My friend Bala is an amazing guy. He and I worked together atTata Motors over 15 years ago as trainees. I remember him as a very sincere guy, joining Tata straight out of IIT Bombay (as it was called then). While all of us other trainees were looking for ways to get away by doing the least amount of work, Bala was the other extreme - showing up to work early and leaving late. He spent most of his time at the Engineering Research Center, designing cars etc. But after two years he decided that he wanted to study management and pushed off to IIM Bangalore.

After IIMB, he worked in a number of technology related companies - Wipro, Infosys, Mphasis and the likes. Somewhere along the way he got married also. In 2007, in an epiphany, he resigned his job and decided to start a Microfinance company that addressed a major gap in the market - i.e. of loan guarantees. A big problem in the world of microfinance is the issue of the risk lenders assume when lending to very low income borrowers - those on the margin. Some of these may get left because of the lack of credibility i.e. high risk they pose.

Bala saw this problem as an opportunity. In his technology consulting days, he had some experience with the financial services sector and quickly recognized this as a very simple business problem - one of managing risk by getting a third party to provide the guarantees and assuming the risk. This way the ordinary public also gets involved in the world of micro-finance by providing small guarantees.

What is amazing is not the concept, but the sacrifices he has made so far - he gave up a well paying job and has bootstrapped this company for the last 12 months. His enthusiasm and passion also attracted a number of volunteers who have worked with him since the idea days. Now Bala is trying to raise financing for his venture but so far has been struggling to get decent funding in these times. I only hope it is a matter of time, before he finds investors / finances to lead the growth of United Prosperity. Here is a link to his company's website: http://www.unitedprosperity.org/
Visit it and get involved.